The other day we told you about two sites, Glyde and Gamestaq, that were trying the pre-owned gaming market for the better by actually giving gamers a way to put real cold hard cash in their pockets. At the time, Glyde was open for business but Gamestaq wasn’t, well we are happy to let you all know that they are now. I think both sites get it and while I haven’t used Gamestaq personally I have heard good things.
Gamestaq.com, a streamlined peer-to-peer marketplace for buyers and sellers of video games. Initially the site will focus on titles released in the past 12 to 14 months, and from there will continually expand to include more titles and games from older video game systems. Gamestaq Beta was previously launched during the second half of 2009 to an exclusive group of 2,000 hardcore gamers and testers. The service was very well received by this critical audience that provided many positive comments and reviews.
Using a proprietary algorithm that pulls in average pricing all across the web, Gamestaq sets equal pricing for both the selling and purchase of a game. The transaction model for Gamestaq is simple, a seller offers a game for sale via Gamestaq, and is then matched with a buyer looking for that specific game. Once shipping is confirmed by Gamestaq’s unique pre-issued tracking number, their funds are released by Gamestaq into their own personal account. Each Gamestaq customer has a unique dashboard where they can control account and social information. Sellers can choose to use the money in their account to purchase a game via Gamestaq or can choose to cash out via PayPal or other methods. Revenue for Gamestaq comes from a small commission for each transaction that is payable by both buyer and seller.
As I said in my previous post on this subject, I really like this as an evolution of the industry, I think that the industry needs to continue to look for new and innovative ways to give more value to the customers and these sites and other like it are doing that. While this particular business sector is still relatively young and there are supply chain issues I think they could still work out, I do think its a promising business model. Since Gamestaq is relatively new, they even have a promo that will guarantee you at least $40 on certain select games if you post them by December 25th.